Disappointments From PetroChina May Just Be Beginning

HONG KONG – PetroChina retained its title as Asia

Revenue for the 12 months that ended December 2006 soared 24.8% to 689 billion yuan ($88.3 billion) from 552.2 billion yuan ($70.8 billion) in 2005. This was primarily due to increases in the prices and sales volume of crude oil, natural gas and certain refined products.

However, net profit rose 6.6% from 2005, the slowest pace since 2002, and the full-year profit of 142.2 billion yuan was lower than the consensus analyst forecast of 144 billion yuan ($18.62 billion) to 152 billion yuan ($19.65 billion).

Forbes